Discussion:Complex Trust - can trust pay tax on distributed income
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Discussion Forum Index --> Tax Questions --> Complex Trust - can trust pay tax on distributed income
| 10 June 2008 | |
| I realize that it's usually beneficial tax-wise to pass along the tax on distributed income to the beneficiary. Assuming a circumstance where the trustee would rather have the trust pay the tax and not K-1 some or all of the amount that was distributed, can that be done?
Thanks, Joe Badham | |
| 10 June 2008 | |
| I'm not a trust expert, but could there be a case to be made that the trust loaned the money instead of distributing it? Just a thought. If this works out, make sure all the paper supports your position. | |
| 10 June 2008 | |
| I believe that on the K-1 there's an area for other info. If the trust makes the est pymts for the bene, it can be stated there. And of course it's part of the distrib. | |
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